Restaurant/cafe for sale in Lavender Hill, Battersea SW11

Offers over £485,000 (£161.83/sq. ft)
Restaurant/cafe for sale 2,997 sq. ft*
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Property features

  • Freehold Restaurant & Residential Ground Rent Investment
  • Comprises restaurant, advertising board and 2 flats (sold-off)
  • Restaurant let until 2033 (No Breaks). Upward only rent reviews.
  • Full refurbishment and kit-out in 2018. Premium paid of £50,000.
  • Nearby occupiers include Co-op Supermarket, Sainsburys, Pizza Hut and Café Nero.

Property description

Investment Consideration:
Gross Initial Yield: 5.42%
Rental Income: £26,300 p.a.
VAT is not applicable to this property
Comprises ground floor restaurant, prominent outdoor advertising billboard and 2 self-contained flats, which have been sold off on long leaseholds.
Restaurant let until 2033 (No Breaks). Upward only rent reviews, with next review in 2023. Pizzeria Pellone is in the “Top 10 Pizzerias in London” lists by cnn Traveller, Conde Nasté and others
Full refurbishment and kit-out in 2018. Additional premium paid of £50,000 upon commencement of the lease.
Nearby occupiers include Co-op Supermarket, Sainsburys, Pizza Hut and Café Nero, amongst many more.
Prominent corner location, with outdoor terrace, in one of Battersea`s busiest streets.
Future development optionality – with potential to develop in the rear and build a basement, subject to obtaining planning consent.

Property Description:
The property comprises end-of-terrace building arranged as a ground floor restaurant along with two self-contained flats over ground, first and second floor. The restaurant has undergone a full refurbishment and kit-out upon commencement of tenancy in 2018. The residential flats have been sold off on long leaseholds. The neighbouring building has a full basement, which leads to potential development opportunity for building out basement subject to obtaining planning consent.
The property provides the following accommodation and dimensions:
Ground Floor: Restaurant 55 sq m (596 sq ft)
Rear Ground Floor: Two-bedroom flat 136 sq m (1,464 sq ft)
First & Second Floor: Three-bedroom flat 87 sq m (937 sq ft)

Tenancy:
The ground floor restaurant is at present let to Albarella Limited t/a Pizzeria Pellone for a term of 15 years from 30th October 2018 at a current rent of £20,000 per annum and the lease contains full repairing and insuring covenants. Upward only rent reviews in 2023 and 2028. No break clause. Rent deposit held of £10,000. Tenant paid £50,000 premium for the lease. Personal guarantee. The rear ground floor flat has been sold off on a 125 Year lease from 3rd June 2014, at a ground rent of £300 per annum. Rent increasing by £250 every 25 years. The first and second floor flat has been sold off on a 125 Year lease from 16th May 2014, at a ground rent of £800 per annum. Rent doubling every 25 years.The external side wall is at present let to Wildstone Estates Limited for a term of 20 years from September 2021 at a current rent of £5,200 per annum and the lease contains full repairing and insuring covenants. Rent review every fifth year linked to the retail price index (rpi). The tenant is responsible for paying the electricity for the electronic advertising board.

Location:
Battersea is a district of South West London, England, within the London Borough of Wandsworth. It is located on the south bank of the River Thames, 2.9 miles (4.7 km) southwest of Charing Cross. Transport links are provided by Clapham Junction rail station and Clapham Common underground station (Northern Line). Nearby occupiers include Co-op Supermarket, Sainsburys, Pizza Hut and Café Nero, amongst many more.

Property info

* Sizes listed are approximate. Please contact the agent to confirm actual size.

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For more information about this property, please contact
Blue Alpine Partners, SW1P on +44 20 3641 9157 * (local rate)

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Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Blue Alpine Partners, and do not constitute property particulars. Please contact Blue Alpine Partners for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

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